Managing your online store is just like taking part in a race - starting it well is important, but ending it well is what wins the proverbial gold medal!

As an online retailer, how do you make sure that you don't jeopardize your efforts in the last leg of the race i.e. closing the sale? Here's a list of common closing sale mistakes many tend to make and that you should definitely avoid:

1: Uncompetitive pricing

"according to Nomis Solutions, consumers are 7.4 times more sensitive to price online than in-store." – Max Knoblauch, Mashable

2: Over-reliance on promotions to drive revenue

"It's a good short-term tactic, but it's not a long term strategy." – Dale Traxler, practicalecommerce.com

3: Limited payment options

"limiting the way customers can pay will only restrict the number of total sales." – Omar Kattan, Sandstorm Digital

4: Not showing shipping rates

"There's no good reason not to include accurate shipping rates on your site." – Cameron Chapman, web designer

5: Charging too much for shipping

"Mulpuru says that if you're charging more than 10% of the total cost of the item for shipping, then you're charging too much." – Todd Wasserman, Mashable

6: Slow Shipping

"Not receiving their product on time will not only lose you customers but will scar you with a bad reputation." – Jeff Ropelato, TechMediaNetwork

7: Missing policy statements

"Making your store policies clear upfront can save a lot of headaches later on from customers who are unhappy with an order they've placed." – Cameron Chapman, web designer

8: Poor customer service

"Web consumers today are very conscious of customer service, and they are apt to go elsewhere if they feel you are not providing them with the level of service they deserve." – AllBusiness.com

9: Hidden contact information

"Giving customers the option of calling with any questions could be the difference between making and losing the sale." – Graham Charlton, Econsultancy

Here's how to increase your chances of closing online sales:

Payment & Shipping

• Keep your prices competitive with the rest of your market
• Provide as many payment options as practical
• Mitigate your shipping costs by offering a flat table rate or a conditional rate
• Work out true and fast shipping methods
• Display your shipping rates

Store policy & Customer service

• Display return policy on the product page
• Put in an FAQ or store policies section
• Make it easy for visitors to get in touch with you
• Use a ticketing system for customer service inquiries
• Listen to customer concerns carefully and do your best

Above all, stay focused in offering compelling products, rich content and a superior perceived value.

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Read more:

The Ultimate Guide to Ecommerce Mistakes series

• Intro: What's the best way to develop a good understanding of ecommerce?
• Part 1: Critical Business Mistakes
• Part 2: Marketing Mistakes
• Part 3: Common Website Mistakes
• Part 4: Customer Experience Mistakes
• Part 5: Closing Sale Mistakes (You are here)
• Part 6: Post-Purchase Mistakes